Cirrus Logic (NASDAQ:CRUS) Given New $115.00 Price Target at TD Cowen

Cirrus Logic (NASDAQ:CRUS) had its price objective hoisted by TD Cowen from $100.00 to $115.00 in a research report report published on Wednesday morning, MarketBeat reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on CRUS. TheStreet raised Cirrus Logic from a c+ rating to a b- rating in a research note on Tuesday, January 23rd. Stifel Nicolaus increased their price objective on Cirrus Logic from $95.00 to $100.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Barclays lifted their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an overweight rating in a research note on Tuesday, January 16th. Susquehanna increased their price target on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a positive rating in a research report on Wednesday, February 7th. Finally, StockNews.com cut shares of Cirrus Logic from a strong-buy rating to a buy rating in a research report on Saturday, April 20th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $107.86.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $102.24 on Wednesday. The firm has a fifty day moving average price of $89.88 and a two-hundred day moving average price of $83.31. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 32.46 and a beta of 0.99. Cirrus Logic has a one year low of $65.02 and a one year high of $103.30.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. Equities research analysts expect that Cirrus Logic will post 4.79 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at $548,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cirrus Logic

Several large investors have recently made changes to their positions in the business. MQS Management LLC increased its holdings in shares of Cirrus Logic by 4.0% in the third quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 164 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of Cirrus Logic by 5.2% during the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 171 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Cirrus Logic by 0.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock valued at $1,994,000 after purchasing an additional 172 shares in the last quarter. Covestor Ltd increased its position in Cirrus Logic by 13.2% in the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 174 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.